The industry is pushing out new GPUs and other gaming components all the time. You can build your own PC and insert even multiple components there...

And I just found out one thing about The Witcher 3, one of my favorite games. They actually had to downgrade the game content, as massive as it ended up as, for it to still work in the consoles. Many gaming PC users were sour about that.

So it would seem like the gaming PCs have the upper hand now what comes to gaming performance and capacity.

Oh yeah, they have for awhile. Most games are downgraded to run on the consoles. I think consoles also run at 30fps (wii-u and switch run at 60fps, but sometimes at 720p).

PCs are more expensive so it only makes sense really that they can run at 144+fps, 1080p, etc. Most games will let you run on higher graphics on the PC though, even if they had to downgrade it for the console.